May 18, 2017 Comments Off on Downtown Seattle High-Rise Dev Site Acquired for $25M Views: 391 National News, Washington, West

Downtown Seattle High-Rise Dev Site Acquired for $25M

China-based GZI Boren, LLC acquired a development site in downtown Seattle from Concerto Investments LLC for $25 million. The 22,800-square-foot site is located in The Denny Triangle neighborhood, and envisioned for a high-rise apartment or condominium project.

The land is zoned for mixed-use development, and could accommodate a building up to 440 feet tall. The area surrounding the site is undergoing significant redevelopment, including 33 approved and pending projects totaling 3.5 million square feet of office and roughly 10,000 residential units.

Kidder Mathews’ Ross Klinger, Jim Klinger and Tim Foster represented the seller in the transaction.

Concerto Investments, which is associated with the Fassio family, acquired the property in 1998 for $2.4 million.

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